Digital currency processor BitPay has today released some impressive statistics from the Bitcoin Black Friday event that took place this past Friday. Bitcoin Black Friday, as the name would suggest, is a play on the traditional Black Friday shopping day, in which retailers heavily discount their prices. Likewise, many businesses online that accept Bitcoin joined in on the fun, and so Bitcoin Black Friday was born.
The payment processor said that on November 29th, they processed 6,296 transactions — making the day the most popular in the history of “bitcoin commerce”, as noted by the BitPay press release. BitPay says that over 6 percent of all Bitcoin transactions on the 29th were processed through their network. That’s a 6260% growth in a year.
“BitPay’s order volume is the most accurate indicator of the real bitcoin economy, and today that economy is soaring higher as merchants are seeing tremendous value in accepting bitcoin payments,” said Tony Gallippi, CEO and co-founder of the company. “We are building the most powerful, reliable, and scalable tools for businesses to accept bitcoin.”
The company is working with nearly 14,000 merchants, and is available to nearly 75,000 via a recent Shopify integration.
BitPay says Bitcoin transactions have grown 165% since October. That’s about 55,228 transactions for the eleventh month of the year.